The Insurance Regulatory and Development Authority of India (“IRDAI”) has cautioned all policy holders and members of the public regarding spurious phone calls and fictitious / fraudulent offers.
The IRDAI has received information that general public / policyholders have been receiving spurious calls from un-identified individuals posing as officials or representatives of IRDAI with fictitious and fraudulent offers which are beyond the scope of insurance policies. They are using names like as ‘Insurance Transaction Department’, ‘RBI’ or any other name of existing government agencies and mis leading the public about their authenticity.
The callers offer unrealistic benefits in the existing life insurance policies including in lapsed policies of policyholders such as unclaimed bonus, agency commission, refund of investment amount / growth amount etc which they can claim, subject to upfront payment of fee / advance tax / deposit or payment to the account of the caller.
IRDAI has advised all to verify the identity of the caller and the genuineness of the offer with the concerned Insurance Companies and registered intermediaries. The public should directly deal with Insurance Companies or registered intermediaries / insurance agents while purchasing a policy or having any financial dealing with the insurance companies for verification. IRDAI has issued a list of entities registered with IRDAI (list of specific entity is hyperlinked) –
1. Life Insurers;
2. General and Health Insurers;
3. Insurance Brokers;
4. Web Aggregators;
5. Insurance Marketing Firms;
6. Corporate Agents;
The list of insurance agents appointed by individual insurers may be verified from the respective insurers. The customers have also been advised to take due care and verify the genuineness of the website and the insurer, intermediary or agent before making any online payment. For further information, one may visit http://www.policyholder.gov.in.
Source : Insurance Regulatory and Development Authority of India
